About the author : Alex Pana

Alex Pana is the Marketing Manager at Oveit, the US-based tech company that developed Streams.live. Prior to joining Oveit, he worked with 2 of the world's leading financial services companies. Over the last 4 years, Alex attended more than 100 live and virtual events, understanding how entertainment and digital payments work together. He is people-oriented and although his role is to share the word about Oveit's solutions, he loves to learn about people's experiences. Be they good or bad. He has a degree in Public Administration. This is where he first learned that small changes can result in big improvements. Having this in mind it was only normal for him to join Oveit.

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Lady using video commerce to increase fashion sales

Having a business that sells fashion items can be fun and challenging at the same time. If you landed on this page, you are probably looking for new ways to increase your sales. However, increasing sales means improving different parts of your business. In this article, we will see how can video commerce increase fashion sales.

Video commerce provides a new, engaging alternative for traditional eCommerce. It finds itself at the intersection of in-store and online commerce, allowing businesses to take the best from both experiences. On one side, live stream shopping digitally offers an in-store-like experience; viewers can interact with a shop assistant, ask questions, and see the products showcased live.

On the other hand, once the viewers decide to purchase your goods, they take full advantage of all the eCommerce benefits; they can easily add the product(s) to the cart, pay with a few clicks, and select where they want the products to be delivered. 

This is why live commerce is so powerful. From the comfort of their homes, customers can take part in an engaging experience, where they can see you showcasing products live and can ask questions during the show. Once they are convinced, they can purchase the goods straight from the video experience.

eCommerce for fashion businesses

The online fashion industry had one of the most accelerated growths over the last few years. And although the coronavirus pandemic had a negative impact, it’s expected that the market will recover over the next 2 years, reaching almost $673 billion by 2023. To really understand the dynamics of the industry we can take a look at how it evolved on the US market over the last 6 years, where it saw an increase of almost 70%. 

chart showing US ecommerce fashion sales over the last 6 years

Source: Statista.com

Operating in such a dynamic and competitive market means iterations need to be implemented fast. Trends need to be tested and customer expectations must be managed. As mentioned in the title, video commerce can help fashion eCommerce businesses better serve their customers. Technology should not be used for its own sake, but to create better shopping experiences for your customers. So in order to see how (and why), video commerce can serve its purpose, let’s see which are the touching points of the customer journey. Because, at the end of the day, the customer needs to be the central point of your strategy.

How can video commerce increase fashion sales?

With live commerce, your shop assistant becomes the new online star

When shopping for fashion items, customers are buying a future state of mind. We buy clothes to feel good. To look good. And, of course, to be noticed while wearing them. This is what makes the shop assistant such an important pierce for in-store shops; their experience and passion help customers better understand how different pieces can be used and combined. 

By using video shopping, customers can remotely benefit from your team’s experience. Your eCommerce business will no longer be a faceless one; you can put a face to your business, the face of a well-prepared and enthusiastic professional ready to assist your customers through their purchasing journey.

Live stream shopping can dramatically reduce return rates

Returns represent one of the major pain points of eCommerce. Fashion sales make no exception here. On the contrary, fashion is the eCommerce sector that sees the biggest number of product returns, as one in three purchased products will probably be sent back by the customers.

 

chart showing eCommerce returns based on product category

How can video commerce help you reduce return rates for fashion items? 

Most of the products (almost 50%) are returned due to poor fit or improper understanding of the product. Helping customers better understand how products are made and how they can be combined with other items could dramatically reduce your return rates. As just listing the main characteristics of your products makes it rather impossible for customers to fully understand the looks and feel of a product. Having a live session, where shop assistants answer product-related questions, will reduce the likelihood of customers buying the wrong product. Unlike in other industries, here the size of the product is crucial. How could a customer use a product that is too small or way too big?

Customers may digitally experience the in-store shopping experience, having all their questions answered by a product specialist that ensures that they make the right choice. 

At the same time, multiple products can be showcased at the same time. Is that shirt the perfect match for a grey jacket? Showcase them together and allow customers to buy the right outfit. Curated by a real professional.

Entertainment as part of the shopping experience

The entertainment and fashion industries have always been interconnected, making fashion shoppers expect to be entertained throughout their purchasing journeys. With many businesses moving on the online world, this need for entertainment became even more important for shoppers. 

A study conducted in the second part of 2020 showed that 50% of online customers are looking for different, more engaging shopping experiences. The old customer journey has long seen its best days. Having a few pictures and a short description is no longer enough for the fastidious shoppers. When goods became commodities, experiences become more important than ever. 

Live stream shopping is where commerce meets entertainment. And where unforgettable shopping experiences are born. By allowing customers to enter an engaging experience, you show them that they are for you more than just a number in your sales reports. They have a voice within your brand, making them part of your community.

Personalized shopping experiences through video commerce

When it comes to digital shopping and marketing, personalization can take multiple forms. Some take the form of different discount codes for new or existing clients. Personalization often takes the form of product recommendations based on past purchases or watched products. But the options are quite unlimited here. Big brands personalize event the message and visuals customers interact with based on their past actions. And here is where video commerce can add another powerful layer.

chart showing the percentage of customers that expect customized experiences

You can create different shopping journeys, based on the interest of your customers. Instead of having general live stream shopping sessions, you could create targeted experiences, increasing the chances for customers to buy. 

Your customers are more likely to buy if all their questions are answered on the spot as 90% of customers have at least one question they need to find an answer to before actually making a purchase.

Extra on why would video commerce increase fashion sales

We have addressed the impact eCommerce has over the environment in a previous article, as we mentioned sustainability as one of the 7 eCommerce trends that we should keep an eye on in 2021. However, the importance of the subject has made us reiterate the issue. How can live stream shopping help businesses reduce the impact?

 

By allowing customers to have a better understanding of your products through video commerce, you can dramatically reduce returns. Thus having an important impact on the carbon footprint generated by your business. Think about it.

Another benefit is the ease with which a community can be created around your brand by using this new way of shopping. By having the ability to easily ask questions and receive instant answers, customers feel more engaged, increasing the likelihood of becoming part of your community.

Final words

Video commerce is here to stay. And more than any other verticals, fashion saw the benefits and adopted this new way of shopping. Using it for your eCommerce business will provide new and engaging shopping experiences that customers love to be part of.  It’s time to start using video commerce to increase fashion sales.

 

About the author : Alex Pana

Alex Pana is the Marketing Manager at Oveit, the US-based tech company that developed Streams.live. Prior to joining Oveit, he worked with 2 of the world's leading financial services companies. Over the last 4 years, Alex attended more than 100 live and virtual events, understanding how entertainment and digital payments work together. He is people-oriented and although his role is to share the word about Oveit's solutions, he loves to learn about people's experiences. Be they good or bad. He has a degree in Public Administration. This is where he first learned that small changes can result in big improvements. Having this in mind it was only normal for him to join Oveit.

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